All those cameras

Here's a random thought. I suspect that small tightly-knit communities--small towns--have tended to produce, on average, more people with a traditional sense of morality--more people with strong consciences. Don't steal, don't kill, be kind, look out to help others in need, for instance. I don't know this to be a fact. Rather, it's anecdotal, but it's based on 54 years of experience. I also suspect that part of the reason that this is true (to the extent that it is true) is that people in small towns keep a close eye on each other. In small towns, I suspect that children grow up more closely watched and corrected by others (especially corrected by neighbors and even strangers) when they gets out of line. I think that this sort of upbringing will tend to produce more of a traditional moral "conscience." Now consider that there are a lot of cameras out there these days. Lots and lots of government cameras, of course, but also millions of phone cameras as well as plain old . . . cameras. Anything unusual that happens out in a public space is now likely to draw at least some photos and video. Is it possible that all of these cameras in big cities might have the effect of turning big city "dog-eat-dog" people into something more akin to small town people? Will the presence of so many cameras tend to make big city people feel constantly "watched." Will that, in turn, encourage big city individuals to develop traditional moral habits?

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Cigarettes save the environment by killing humans

The Onion reports:

"By killing off the No. 1 threat to the environment, new Marlboro Earths will have a long-term effect on the overall health of our planet," Philip Morris spokesperson Janet Weiss said. "If everyone in America does their part and joins our new green-smoking movement, then together we can eradicate man's destructive practices once and for all."

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The problem with oratory skills

Noam Chomsky doesn't put any value in polished oratory skills, a point he made clear in an interview he gave Nigel Farndale at Telegraph.co.uk:

I am no Barack Obama,’ he says to me now. ‘I don’t have any oratory skills. But I would not use them if I had. I don’t like to listen to it. Even people I admire, like Martin Luther King, just turn me off. I don’t think it is the way to reach people. If you are giving a graduate course you don’t try to impress the students with oratory, you try to challenge them, get them to question you.’
What does Chomsky think of Obama?
I take it he didn’t buy into Obama’s message of hope and change. ‘Elections in the United States are expensive extravaganzas run by the public relations industry. The PR people looked at the polls and picked slogans accordingly. ‘Did you know Obama won the best campaign of the advertising industry in 2008? It was politicians being marketed as a product, like toothpaste. What does that have to do with democracy? If you read his statement you find yourself asking what was the hope? What was the change? These were empty words.’

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Time to really focus on the banks

At The New Republic, James K. Galbraith argues that "The financial crisis in America isn't over. It's ongoing, it remains unresolved, and it stands in the way of full economic recovery."

To restore the rule of law means first a rigorous audit of the banks and of the Federal Reserve. This means investigations—Representative Marcy Kaptur has proposed adding a thousand FBI agents to this task. It means criminal referrals from the Financial Crisis Inquiry Commission, from the regulators, from Congress, and from the new management of troubled banks as they clean house. It means indictments, prosecutions, convictions, and imprisonments. The model must be the clean-up of the Savings and Loans, less than 20 years ago, when a thousand industry insiders went to prison. Bankers must be made to feel the power of the law in their bones.
I agree with much of what Galbraith says, although he wants to give the ratings agencies a free pass, which is, in my view, outrageous. If the ratings agencies had bothered to inspect even a few loan files, they would have seen the exploding ARMs triggered by 2 or 3 year teaser rates and the scant or non-existent documentation. A huge percentage of subprime loans were guaranteed to fail. It add insult to injury that the ratings agencies are successfully (so far) invoking the First Amendment to defend their incompetence and fraud.

Continue ReadingTime to really focus on the banks